Question

A man borrows Rs 10000 at a compound interest rate of 8% per annum.If he repays Rs 2000 at the end of each year, find their sum outstanding at the end of the third year
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Answer 1

Step-by-step explanation:

at the end of 1st year

A=P (1+r/n)^nt

A=10000 (1+0.08)=Rs10800

after 2000 is paid

then P for 2nd year=10800-2000=Rs8800

at end of 2nd year

A=8800 (1+0.08)=Rs9504

after 2000 is paid

P for 3rd yeat=9504-2000=7504

A=7504 (1+0. 08)=Rs600.32

Answer 2

Answer:

8104.32 is the answer

Step-by-step explanation:

process to find the answer is ----> P(1+R/100)n^